We highly recommend using the current version of the Swarm City DApp at https://swarm.city to create new accounts.
Swarm City version 1 was our first draft and is now considered extinct. However, it is still accessible for those who need to use the ARC to SWT conversion tool until we relocate this feature. This version currently has numerous known bugs and issues, and is not being further developed.
Swarm City developers scrapped version 1 and rebuilt a new and improved version 2 that requires their full attention. Please use version 2 at https://swarm.city for optimal DApp performance.
Once your offer has been placed on the Boardwalk, a deposit of SWT from your account will be transferred into an escrow account.
The other party who responds to your offer will also deposit an equal amount into the escrow account.
Users communicate privately and upon satisfactory completion of the transaction the funds are released by the offer maker to the offer taker.